After over 20 years, the long-running Rooster Teeth company behind popular online series like Red Vs Blue about Halo is shutting down, and its podcast network is being sold. This news was confirmed by Rooster Teeth staff with a post on the website.
“Since inheriting ownership and control of Rooster Teeth from AT&T following its acquisition of TimeWarner, Warner Bros. Discovery continued its investment in our company, content and community. Now however, it’s with a heavy heart I announce that Rooster Teeth is shutting down due to challenges facing digital media resulting from fundamental shifts in consumer behavior and monetization across platforms, advertising, and patronage.” Jordan Levin said in a memo to employees.
All video productions will soon stop but the podcast network will continue as Warner Bros. Discovery plans to reportedly sell it.
Warner Bros. Discovery has been pushing to cut costs so it can lower expenses. This has resulted in some movies being canceled even after they were made and MotorTrend shutting down its streaming service.
Recenlty Warner Bros. Discovery also announced plans to close its New Zealand TV news provider, according to a report from Reuters.
Warner Bros. Discovery owns one of New Zealand’s two free over-the-air TV networks, and it has announced that it plans to shut down its news operations and cut 200 media jobs.
These cuts are part of a bigger push to cut costs in any way the company can to reduce its expenses, helping pay off its debts and return the company to profitability.
More cuts are in the future for Warner Bros. Discovery as it continues to look for ways to become profitable in the face of cord cutting.
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